Oil is the only promising source of improvement for the future. In spite of the sectarian wars as well as political issues, the oil industry of Iraq is growing a steady astonishingly. The nation is looking forward to growing production as western countries restrict the sanctions against Iranian exports in order to ease the world's oil markets.
Due to the crucial port improvements and an increase in flow, oil production has increased exports by up to 20%. This makes it a major producer in excess of 2.5 million barrels per day in 2012. If you want to get the best oil recovery services visit benzoil.com.au/services/oil-recovery/.
The issue of sharing profits is becoming a significant obstacle to the country's growth. This has led to the spread of corruption and weakened the democratic process.
Despite many obstacles, the government has stated that it will increase another 400,000 barrels of oil per day of production in 2013. It is also determined to make 10 million barrels per day by the year 2017.
Michael Townshend, the president said: "What the government is focusing on and the growth in production they're seeking in all the contracts is one of a kind across the globe." However, he warned, "Nobody has yet managed to increase the production of oil in the country in the way that Iraq plans to. It's a huge undertaking and will require several things in order to be done correctly."